AVI Global Trust raises dividend despite failing to beat benchmark

(Alliance News) - AVI Global Trust PLC on Wednesday reported double-digit growth in net asset value and share price returns for the full-year, though it trailed its benchmark index.

The Exeter, England-based trust, which invests in global equities using a value-focused strategy, said in the financial year ended September 30, net asset value total return increased 13.7% compared to 15.3% the year prior.

AVI Global fell short of its benchmark, the MSCI AC World Index, which in comparison returned 19.9%.

The trust proposed a final dividend of 2.55p, bringing the total 2024 payout to 3.75p, 7.1% up from 3.70p the previous year. Unlike 2023, the trust did not declare a special dividend, which had added an extra 0.20p to last year's payout.

In 2024, AVI Global's total earnings per share increased by 13% to 31.65 pence from, 28.0p the year prior, while NAV per share rose 12% to 254.81 pence, up from 226.77 pence a year ago.

Chair Graham Kitchen said: "Against this volatile background, the company's NAV total return for the year was a creditable +13.7%."

AVI Global anticipates ongoing market volatility due to heightened geopolitical tensions and conflict in the Middle East and Ukraine. The company noted that these uncertainties could be further intensified by the outcome of the recent U.S. election.

The trust achieved a share price total return of 16.3% this year, up from 14.8% in 2023.

AVI Global shares were down marginally at 236.99 pence in London on Wednesday morning.

By Eva Castanedo, Alliance News reporter

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